Japan's Financial Regulator Resigns
After Acknowledging Bank Payment

By

Bill Spindle Staff Reporter of The Wall Street Journal

Updated July 31, 2000 2:42 a.m. ET

TOKYO -- Japan's top financial regulator resigned Sunday after acknowledging on Friday that he had received some 200 million yen ($1.8 million) in advisory fees from a major bank before assuming his post.

The resignation of Kimitaka Kuze, the chairman of the government's Financial Reconstruction Commission, was the second embarrassing scandal for the administration of Yoshiro Mori this month, and the second time this year that the...